PUBLISHER: Value Market Research | PRODUCT CODE: 1547831
PUBLISHER: Value Market Research | PRODUCT CODE: 1547831
The global demand for Metal Casting Market is presumed to reach the market size of nearly USD 250.63 Billion by 2032 from USD 145.48 Billion in 2023 with a CAGR of 6.23% under the study period 2024-2032.
Metal casting is the process in which molten metal is poured into a mould that contains a hollow cavity of a desired geometrical shape and allowed to cool down to form a solidified part. The casting process is most frequently used for making complex shapes that would be difficult or uneconomical to make by other methods. Metal casting technology provides numerous advantages; it helps improve energy efficiency, lower production costs, and create innovative new cast products. These advantages are used in pipes and fittings, mining and oilfield machinery, internal combustion engines, railroads, valves, and farm equipment, which depend heavily on casting to create uniform products.
The market is primarily driven by the increasing use of lightweight materials in the construction and automotive sector. Furthermore, the growing demand for complex products from various end-use industries is likely to propel the market. The final product can be used in construction equipment & machinery, heavy vehicles, curtain walling, door handles, windows, and roofing. In addition to this, rising demand for pans, pots, utensils, engines, piping, and automotive are the growth factors for the cast iron market. Demand for the grey iron metal is projected to increase over the years because of its applications in housing, engine blocks, cylinder heads, and enclosures. Its characteristics, such as stiffness, high thermal conductivity, and wear resistance, make it useful in such applications. On the contrary side, the high cost of initial setup may hamper the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Metal Casting. The growth and trends of Metal Casting industry provide a holistic approach to this study.
This section of the Metal Casting market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Metal Casting market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Metal Casting market include POSCO, Dynacast, Arconic, Ryobi Limited, Endurance Technologies Limited, Alcast Technologies, UNI Abex, MES Inc., Calmet, Hitachi Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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